NOT LISTED FOR SALE

981 E Parocela Place Palm Springs, CA 92264

Warm Sands Neighborhood

Estimated Value: $933,000 - $1,489,000

8 Beds
4 Baths
2,960 Sq Ft
$430/Sq Ft Est. Value

Last Sold December 29, 2023

Last sale price $1,400,000 $473 Per Sq Ft

Est. 9% decrease in value since last sale

Current estimated payment $8,438/month

229 Days on Market

Highlights

  • In Ground Pool
  • Midcentury Modern Architecture
  • Living Room
  • Palm Springs High School Rated A-
  • Mountain View
  • Ceramic Tile Flooring

About This Home

As of December 2023

INCREDIBLE INVESTMENT PROPERTY! This quadruplex in centrally-located Warm Sands has been fully renovated in the last few years. All units are 2BD/1BA, with an eye for designer finishes and style galore! Pictures of the one unit are indicative of all the units, with minor differences. Upgrades/renovations in 2015 include HVACs for all units, double-pane windows and sliders, kitchens/baths/flooring, in-unit laundry, new roof profile, pool installation, with all units having direct access to the communal backyard pool/patio area, with intense views to the western mountains. 100% occupied by full time renters, smooth income stream in one of the most sought-after neighborhoods in Palm Springs. Each unit has separate meters for all utilities. Plenty of off-street parking for tenants. Single-car garage that can be rented for tenant storage.

Last Agent to Sell the Property

Tad Smith

Berkshire Hathaway HomeServices California Properties License #01990572 Listed on: 05/13/2023

Berkshire Hathaway HomeServices California Properties

Last Buyer's Agent

Alan Wachman

Miller & Desatnik Realty Co. License #01047592

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,060

Year Built

  • Built in 1947

Lot Details

  • 9,148

Home Design

  • Midcentury Modern Architecture
  • Stucco Exterior

Interior Spaces

  • 2,960 Sq Ft Home
  • Living Room
  • Dining Area
  • Ceramic Tile Flooring
  • Mountain Views

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Parking

  • 1 Car Garage
  • 10 Assigned Parking Spaces

Pool

  • In Ground Pool
  • Gunite Pool

Additional Features

  • 9,148 Sq Ft Lot
  • Ground Level
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for cable TV, electricity, water, gas
  • Assessor Parcel Number 508154015

Community Details

Overview

  • 4 Units
  • Warm Sands Subdivision

Recreation

  • Community Pool

Building Details

  • 4 Separate Electric Meters
  • 4 Separate Gas Meters
  • 4 Separate Water Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,060

Year Built

Built in 1947

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadruplex
  • Property Attached/Detached: Yes
  • Levels: Ground Level, No Unit Above
  • Building Style: Mid Century
  • Entry Location: Ground Level - No Steps
  • List Price per Sq Ft: 500.00
  • Lp Sp Ratio: 0.9500
  • View Type: Mountain(s)
  • Year Built: 1947
  • Internal Listing I D: 20230510103017159762000000
  • Listing I D: 219094949
  • Listing Member Address: 2905 Tahquitz Canyon Way, Palm Springs, CA 92262
  • Listing Office Address: 2905 Tahquitz Canyon Way, Palm Springs, CA 92262
  • Listing Office Fax: (760) 322-5083
  • List Office Board Code: California Desert Association of Realtors
  • Selling Office Address: 3627 Motor Ave., Attn: Jeri Weed, Los Angeles, CA 90034
  • Street Direction: E
  • Land Type: Fee
  • New Construction: No
  • Subdivision: Warm Sands
  • Special Features: None

Interior Features

  • Number Of Disposals: 4
  • Number of Ranges: 4
  • Flooring: Ceramic Tile
  • Total Bedrooms: 8
  • Total Bathrooms: 4.00
  • Three Quarter Bathrooms: 4
  • Estimated Sq Ft: 2960.00

Exterior Features

  • Construction: Stucco
  • Pool: Yes
  • Pool Construction: Gunite, In Ground
  • Pool Description: Community
  • Pool Location: Community
  • View: Yes

Garage/Parking

  • Parking: Assigned
  • Parking Info Total Garage Spaces: 1.00
  • Parking Info Total Parking Spaces: 11.00
  • Total Uncovered Assigned Spaces: 10.00

Utilities

  • Number Electric Meters: 4
  • Number Water Meters: 4
  • Cooling Type: Central Air
  • Heating: Central
  • Sewer: In, Connected and Paid
  • Number Gas Meter: 4

Lot Info

  • Assessor Parcel Number: 508154015
  • Lot Size: 9148.00

Rental Info

  • Tenant Pays: Cable TV, Electricity, Water, Gas
  • Land Lease Type: Fee Simple

Multi Family

  • Number Of Dishwashers: 4
  • Number Of Refrigerators: 4
  • Total Units: 4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 13, 2023
Closed on
Dec 7, 2023
Sold by
Johnston Marc
Bought by
Alice Arakel Trust and Arakel
Seller's Agent
Tad Smith
Berkshire Hathaway HomeServices California Properties
Buyer's Agent
Alan Wachman
Miller & Desatnik Realty Co.
List Price
$1,550,000
Sold Price
$1,400,000
Premium/Discount to List
-$150,000
-9.68%
Views
388
Current Estimated Value
$1,272,444

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$127,556
Avg. Annual Appreciation
-5.59%
Original Mortgage
$670,000
Outstanding Balance
$659,196
Interest Rate
7.38%
Mortgage Type
New Conventional
Estimated Equity
$613,248

Purchase Details

Closed on
Oct 14, 2022
Sold by
Russell Parenti Living Trust
Bought by
Johnston Marc

Purchase Details

Closed on
Feb 10, 2021
Sold by
Parenti Russell
Bought by
Parenti Russell

Purchase Details

Closed on
Sep 6, 2017
Sold by
Parenti Russell
Bought by
Parenti Russell

Purchase Details

Listed on
Jan 7, 2015
Closed on
Jul 16, 2015
Sold by
Johnston Marc
Bought by
Parenti Russell
Seller's Agent
Lee Sheppard
Sheppard & Co
Buyer's Agent
Brady Sandahl
Keller Williams Luxury Homes
List Price
$659,000
Sold Price
$640,000
Premium/Discount to List
-$19,000
-2.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.06%
Original Mortgage
$472,500
Interest Rate
3.98%
Mortgage Type
Commercial

Purchase Details

Listed on
Jan 7, 2015
Closed on
Jun 19, 2015
Sold by
Lincoln Trust Company
Bought by
Parenti Russell
Seller's Agent
Lee Sheppard
Sheppard & Co
Buyer's Agent
Brady Sandahl
Keller Williams Luxury Homes
List Price
$659,000
Sold Price
$640,000
Premium/Discount to List
-$19,000
-2.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$472,500
Interest Rate
3.98%
Mortgage Type
Commercial

Purchase Details

Listed on
Feb 24, 2012
Closed on
Mar 16, 2012
Sold by
The Bank Of New York Mellon
Bought by
Lincoln Trust Company
Seller's Agent
John Anselmo
RE/MAX Consultants
Buyer's Agent
John Anselmo
RE/MAX Real Estate Consultants
List Price
$282,900
Sold Price
$323,500
Premium/Discount to List
$40,600
14.35%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
22.81%

Purchase Details

Closed on
Jul 12, 2011
Sold by
Grant Claire J
Bought by
The Bank Of New York Mellon

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$467,000
Interest Rate
4.46%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 2, 2007
Sold by
Forty Seven Investments Lp
Bought by
Grant Claire J

Purchase Details

Closed on
Jan 31, 2006
Sold by
Parks Stephen E and Krauchenko Michael J
Bought by
Grant Claire J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$632,000
Interest Rate
7.75%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Oct 14, 2004
Sold by
Roberts Ross
Bought by
Parks Stephen E and Krauchenko Michael J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$472,000
Interest Rate
5.64%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 23, 2004
Sold by
Irmalou Corp
Bought by
Roberts Ross

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$472,000
Interest Rate
5.64%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 14, 2004
Sold by
Irmalou Corp
Bought by
Roberts Ross

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
5.12%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 31, 2002
Sold by
Irmalou Corp
Bought by
Roberts Ross

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$225,000
Interest Rate
5.88%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 22, 2000
Sold by
Ross Roberts
Bought by
Irmalou Corp

Purchase Details

Closed on
Jun 11, 1999
Sold by
Bogdan Greg E and Bogdan Dale A
Bought by
Roberts Ross

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$147,000
Interest Rate
7.64%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 10, 1997
Sold by
Ricart Donald
Bought by
Hauch Dale A

Purchase Details

Closed on
Dec 10, 1996
Sold by
California Federal Bank
Bought by
Ricart Donald and Bogdan Greg E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$104,000
Interest Rate
7.81%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 30, 1996
Sold by
Daenen Clayton J
Bought by
California Federal Bank Fsb
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Alice Arakel Trust $1,400,000 Orange Coast Title
Johnston Marc -- Orange Coast Title
Parenti Russell -- None Available
Parenti Russell -- None Available
Parenti Russell -- Fidelity National Title
Parenti Russell $630,000 Fidelity National Title
Lincoln Trust Company $323,500 Landsafe Title Simi Valley
The Bank Of New York Mellon $848,913 Landsafe Title
Grant Claire J -- None Available
Forty Seven Investments Lp -- Landamerica New Century Titl
Grant Claire J $790,000 Southland Title Inland Empir
Parks Stephen E $590,000 First American Title Co
Roberts Ross -- --
Roberts Ross -- First American Title Co
Irmalou Corp -- First American Title Co
Roberts Ross -- First American Title Co
Irmalou Corp -- --
Roberts Ross $245,000 First American Title Co
Hauch Dale A -- --
Hauch Dale A -- Chicago Title Co
Ricart Donald $130,000 First American Title Ins Co
California Federal Bank Fsb $135,768 Chicago Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Alice Arakel Trust $670,000
Previous Owner Parenti Russell $150,000
Previous Owner Parenti Russell $472,500
Previous Owner Long Don $467,000
Previous Owner Grant Claire J $632,000
Previous Owner Parks Stephen E $472,000
Previous Owner Roberts Ross $100,000
Previous Owner Roberts Ross $300,000
Previous Owner Roberts Ross $225,000
Previous Owner Roberts Ross $147,000
Previous Owner Ricart Donald $104,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/29/2023 12/29/23 Sold $1,400,000 -5.4% $473 / Sq Ft
12/28/2023 12/28/23 Pending -- -- --
07/01/2023 07/01/23 Price Changed $1,480,000 -4.5% $500 / Sq Ft
05/13/2023 05/13/23 For Sale $1,550,000 +142.2% $524 / Sq Ft
07/31/2015 07/31/15 Sold $640,000 -2.9% $216 / Sq Ft
06/18/2015 06/18/15 Pending -- -- --
01/07/2015 01/07/15 For Sale $659,000 +103.7% $223 / Sq Ft
04/06/2012 04/06/12 Sold $323,500 +14.4% $109 / Sq Ft
03/05/2012 03/05/12 Pending -- -- --
02/24/2012 02/24/12 For Sale $282,900 -- $96 / Sq Ft
Source: California Desert Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $18,060 $1,428,000 $275,400 $1,152,600
2023 $18,060 $750,292 $136,536 $613,756
2022 $10,443 $735,581 $133,859 $601,722
2021 $10,254 $721,159 $131,235 $589,924
2020 $9,804 $713,766 $129,890 $583,876
2019 $9,664 $699,772 $127,344 $572,428
2018 $9,496 $689,052 $124,848 $564,204
2017 $9,365 $675,600 $122,400 $553,200
2016 $8,740 $633,084 $120,000 $513,084
2015 $5,016 $341,171 $78,381 $262,790
2014 $4,884 $334,551 $76,847 $257,704
Source: Public Records

Agents Affiliated with this Home

  • Tad Smith

    Seller's Agent in 2023

    Tad Smith

    Berkshire Hathaway HomeServices California Properties

    (760) 323-5000

    1 in this area

    44 Total Sales

    Tad Smith
    Section Image
  • Alan Wachman

    Buyer's Agent in 2023

    Alan Wachman

    Miller & Desatnik Realty Co.

    (310) 202-9166

    1 in this area

    8 Total Sales

    Alan Wachman
    Section Image

  • L

    Seller's Agent in 2015

    Lee Sheppard

    Sheppard & Co

    (619) 726-7544

    7 Total Sales

    Lee Sheppard
    Section Image
  • Brady Sandahl

    Buyer's Agent in 2015

    Brady Sandahl

    Keller Williams Luxury Homes

    (760) 656-6052

    1 in this area

    535 Total Sales

    Brady Sandahl
    Section Image

  • J

    Seller's Agent in 2012

    John Anselmo

    RE/MAX

See All Agents

Map

Source: California Desert Association of REALTORS®

MLS Number: 219094949

California Desert Association of REALTORS®

APN: 508-154-015

California Riverside County Palm Springs 92264 Warm Sands

981 E Parocela Place, Palm Springs, CA

This home is located at 981 E Parocela Place, Palm Springs, CA 92264 since 13 May 2023 and is currently estimated at $1,272,444, approximately $429 per square foot. This property was built in 1947. 981 E Parocela Place is a home located in Riverside County with nearby schools including Cahuilla Elementary School, Raymond Cree Middle School, and Palm Springs High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Desert Association of REALTORS® IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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